Tishman Speyer and Commerz Real said on Thursday that they intend to build a 135-metre skyscraper on the Kaiserkarree site they bought in Frankfurt's banking district from Commerzbank. Construction is due to start this spring, with completion scheduled for early 2011.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
